I was about to stand indignantly and respond vehemently that for $1500+ the thing should come with morning coffee every day, but after thinking about it, I chose the Polar 720i (originally the 710i before the 720 or 725 came out). The first one cost about $400 ($389, if I recall correctly), Then about $280 when the first one died and I upgraded, then about $260 when I upgraded to the 720 when the second 710 died. When you count the shipping to get the batteries replaced plus the time that I lost my duffel bag with the heart rate strap in it and had to buy another, I have spent over $1000 in the last 5 years with Polar trying to keep track of HR (heart rate), temperature, average speed and average cadence, and altitude. In light of those numbers, the ERGOMO doesn't sound so far out of reason. Actually, now that Polar has come out with the chest strap transmitter with self-replacable batteries (seems like they have been out for about two years now) that is not so bad, and if, like Paprouty, one replaces his own batteries in the HRM, maybe that value could be cut in half over the 5 years that I had have owned the Polar stuff. I could have had a Power Tap that is built into the rear wheel of your bike and gives you very accurate power readings. I have seen the unit not built into a wheel (which I could do myself) for around $800. With that and a fairly cheap HRM and cycle computer I could get all the stuff that I am currently getting (when it works) from the Polar. Hmmm, sounds like I am arguing for three things on my handlebar - power meter, HRM and cycle computer - that I get from a single Polar unit. Now I'm swinging back to the Polar, that does all that I want it to do (when it works, again) and records the ride in real time that one can download and analyze. I really wish the Polar company was more responsive so that I would not be so reluctant to continue using their products.
Somewhat related to this topic. My new full suspension moutain bike has a VDO wireless cycle computer. I chose it because it is one of the few wireless computers with cadence. (I really want cadence on my cycle computer!!!) Since the bike is fully suspended the shop said that a wired computer would not last long with the rear triangle moving all the time. My Polar 720i absolutely refuses to work with the VDO wireless unit. I got the new coded chest strap transmitter for the Polar unit, but it still doesn't work with the VDO. I'm wondering if the Garmin units or any of the other units mentioned in this thread would have problems with other wireless units on the same bike or even with another bike with a wireless unit in close proximity.
I do triathlons that have to be finished in 12 hours. I'm old enough and slow enough that I don't finish much under that limit. The Garmin units don't have sufficient battery life to last through the triathlon, much less through the 6-day tour of the North Rim of the Grand Canyon that I did last year. I wonder if the 705 would last through triathlons and/or the Grand Canyon. Most nights in the Grand Canyon, I had no access to electrical outlets for a battery charger.
I'm still looking for a replacement for the Polar 720i, given all the constraints that I have above. I took Paprouty's advise above and have replaced my own batteries, even thought the Polar people say you can't do it, so I have something that is working for now.